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Adani Group is going to speed up its work on Mumbai’s Dharavi slum. Adani Group has bagged Asia’s largest slum redevelopment project. According to two people with knowledge of the matter, the Adani Group initially invested Rs. 12,000 crore will be invested.
Before the opening of the IPO, the company raised Rs. 250 crore raised, the company dominates the gray market.
On July 14 this year, the Maharashtra government has handed over the redevelopment of Dharavi to the Adani Group. The entire area is spread over 590 acres. More than 9 lakh people live in this entire area. Apart from this many small industries are running from here.
According to a person familiar with the matter, “Adani Group has $8 billion in cash. An additional $2 billion will be raised by selling shares in group companies. This makes one thing clear that the Adani Group is going to raise money for this entire project from its internal sources at the earliest opportunity. However, Adani Group has not yet said anything in this matter.
100 percent return, the IPO doubled investors’ money on the first day itself
He said, “The Adani Group will use 15 to 20 per cent of its entire cash reserves for the Dharavi project. At the same time, the group will try to raise money from additional sources in the future. According to a person close to the matter, “The entire project will require 4 to 5 billion dollars to complete. So that the work can be completed on time.”